London – Stock prices of all major tire makers monitored by ERJ have gained over the recent weeks, on the back of strengthened consumer confidence and automotive recovery.
Cooper Tire’s share jumped nearly 25% to $37.65 in the four weeks to 23 Oct, as the tire maker saw a strong rebound in third quarter sales.
The surge in stock values ahead of third quarter results seemingly reflects signs of recovery in the automotive market, where sales of new vehicles have steadily improved since the reopening of economies.
Bridgestone (Tokyo) Yen3.352 (25 Sept) to Yen3.618 (23 Oct)
Cooper Tire (NYSE) $30.15 to $37.65
Goodyear (Nasdaq) $7.42 to $11.00
Michelin (Paris) €90.94 to €98.18
Nokian (Helsinki) €22.65 to €26.87
Pirelli (Borsa Italiano) €3.64 to €4.11
SRI (Tokyo) Yen943 to Yen982